Read this: Ofcom - BBC Proposals for coverage of the London 2012 Olympic Games

Summary: Many of the events will be shown on the BBC's channels, which are qualifying services for the purposes of section 98 of the Act. In order to provide comprehensive coverage, the BBC plans to make all other Olympic events available through additional streams. These additional streams would be made available on the BBC's website, and, in whole or part, through satellite, cable and digital terrestrial broadcasts. - stakeholders.ofcom.org.uk

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